The General Authority for Small and Medium Enterprises (Monsha’at) has signed several strategic partnerships with 21 entities from the government and private sectors, including the Ministry of Communications and Information Technology, the Ministry of Labor, the Riyadh Chamber, the Industrial Fund, the Social Development Bank, SABIC, and several financing companies and banks. These agreements were signed during the Biban Riyadh Forum.
The signed agreements aim to support and empower digital entrepreneurship through collaboration in innovation centres, digital entrepreneurship programs, and the implementation of strategic outcomes to develop the telecommunications and information technology sector. They also involve the formation of a joint committee, following an established governance model, to monitor implementation and coordinate efforts. Additionally, the agreements focus on launching programs to raise public awareness about social investment and social entrepreneurship and their importance.
Furthermore, the agreements aim to facilitate access to suitable financing solutions for entrepreneurs and SME owners through a single online portal that brings together financial institutions and supporting funding entities. They also aim to enhance awareness among entrepreneurs and SME owners about dealing with various financing solutions and how to access different sources of funding that align with its needs.
It is worth mentioning that the Biban Riyadh Forum attracted 180 entities from the government and private sectors, supporting and enabling SMEs and entrepreneurs. The forum aims to assist enterprises and entrepreneurs in their growth and expansion by enhancing their managerial, financial, and technical capabilities, as well as increasing awareness of the fundamental skills necessary for conducting business effectively.